Marine
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IMO sulphur cap rules top 2020 maritime risk agenda, says UK P&I Club
New International Maritime Organization (IMO) regulations on fuel and emissions will create “unique challenges” for maritime operators in 2020, according…
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London market loses hold on marine market dominance
Europe is losing market share of global marine business to Asia, which is proving to be strong competition for the…
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Autonomous ships to take decades says Kennedys, amid low levels of public support
The buzz around autonomous shipping could be premature, with the adoption of fully automated ships likely to take decades rather…
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P&I club passenger liability limits fall short: Marsh JLT
Passenger liability limits in the protection and indemnity (P&I) market are inadequate for today’s booming cruise industry, according to a…
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LMA releases silent cyber standard clauses
The Lloyd’s Market Association (LMA) has published model cyber clauses for property, marine and energy policies written in the London…
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Pioneer closes Lloyd’s syndicate
Pioneer Underwriters will close its Lloyd’s syndicate 1980 for the 2020 year of account, because the cost of capital is…
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Insurance buyers with US risks face ‘biggest upward price shift’ in years: WTW
Insurance buyers with US risks face the “biggest upward price shift” for years during 2020, with increases across more lines…
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AGCS pulls out of marine hull and liability business in North America and Asia
Allianz Global Corporate & Specialty (AGCS) will discontinue marine hull and marine liability (HML) business in Asia and North America.…
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Marine market rebalances amid choppy seas for shippers
The marine insurance market is undergoing a correction following years of soft conditions, as the maritime industry faces a number…
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Single cyberattack on Asia-Pacific ports could cost $110bn, with 57% ‘silent’
A single cyberattack on major ports across Asia-Pacific could cost $110bn, which is roughly equivalent to half of all losses…
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Majority of Swiss Re Corporate Solutions’ cutbacks to take place next year, says CFO
Swiss Re Corporate Solutions (SRCS) will make the majority of its cutbacks in badly performing business during 2020, with gross…
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RMS says Typhoon Hagibis losses could reach $11bn
Insured losses from last month’s Typhoon Hagibis in Japan will be between $7bn and $11bn, according to estimates from cat…
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Marsh JLT names new CEO of UK marine and cargo business
Marsh JLT Specialty has named Gard’s Louise Nevill as CEO of its UK marine and cargo business. She is expected…
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Beazley boosts Asia-Pacific expansion plan by taking 30% stake in Hong Kong’s Pegasus
Specialist Lloyd’s-based insurer Beazley has followed up its announcement made earlier this week about its Asian expansion plans, by revealing…
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IUMI pushes IMO for tougher fire standards on ships
The International Union of Marine Insurance (IUMI) has called for shipping regulator the International Maritime Organisation (IMO) to introduce tougher…
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Marine mutuals split over 2020 P&I renewal rate increases
Protection & indemnity (P&I) clubs could call general rate increases of up to 7.5% when buyers renew in February 2020…
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Gulf tensions send war rates soaring over and above tenfold increase
Shipowners operating in the Middle East can expect further big increases in the cost of war risk insurance, following the…
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New head of marine and transport for Globe Underwriting
UK based managing general agent Globe Underwriting has appointed David Dymond as head of marine and transport. The move follows…
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Lloyd’s insurers win $77m fake pirate attack shipping claim
London market insurers have won a legal battle to deny a $77m insurance claim dating back to 2011 for the…
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Clyde & Co names new marine partner
Clyde & Co has appointed Andrew Yarwood as partner in its London marine cargo group. Joining the firm from Kennedys,…